Thursday, March 16, 2006

Work update

I've barely posted this week, but that's because I've been busy with numerous things.I had a fairly big update at work and I'm pretty excited about it. I'm not sure if I actually explained what I do: I assist the two traders and I also help out with the operations side of the business. This means I talk to other traders/brokers and sometimes give them trade orders. Once those are complete, they need to be entered into the system. The operations side takes care of all the details after the trades are done. For instance we use two different prime brokers and one needs to shadow the other. So if one shows 100,00 shares traded of XYZ the other one needs to show this. Sounds simple? I wish! Mistakes are made all the time and these need to be tracked down and fixed. I aslo take care of tax lots because sometimes we might spend a month buying something and then when we're ready to sell, I'll specify what tax lots to sell for tax reasons.

Anyways, back to the update. A few weeks ago I asked if I could use a certain piece of software that the analysts use. The portfolio managers decided to think about it because to add another user it's rather expensive, but I found out this week that I'll be added! I'm also going to be working with one of the analysts developing models and short ideas (short = stocks to short).I'm excited about this opportunity and I should be learning a good amount.